Tesco hears jingle tills, jingle all the way

It's almost that time of year again. So let's singalong with Tesco. You know.
The Trolley and the Ivy. O Leahy Town of Bethlehem. And, for any unhappy
staffer at head office: Cheshunt Roasting on an Open Fire.

If all staff use their £20 Tesco voucher, that would add £28m to salesPhoto: Rex Features

Unhappy staffers are, of course, a rare item at Britain's biggest retailer. But one or two might be a touch frosty about their Christmas bonus from Sir Terry Leahy.

The Tesco boss let one of his elves stick out a press release on Friday, with festive cheer for all 280,000 employees. Hark, it said: "Tesco rewards staff with £55m Christmas thank you."

Unwrap it a bit, though, and it's not all it seems. There's a booklet of "exclusive money-off vouchers", worth £120. But only if you spend them at Tesco. So, you can get £35 off a Sony Home Theatre System – but it will still cost you £114.97. There's £1 off your Christmas wrapping too – but only when you spend a fiver.

Still less generous is the £20 of extra vouchers – all yours as long as you do a £100 shop (though, admittedly the 10pc staff discount lowers your total outlay to £70).

In short, it's a seasonal way to boost Tesco's sales. Just imagine, if all staff use their £20 voucher that would add £28m to sales.